ASEAN

Editorial Team

Thai Beverage moves ahead sustainable growth plan

Thai Beverage Plc (ThaiBev), controlled by billionaire Charoen Sirivadhanabhakdi, will pour 5-8 billion baht next year to expand its group business expansion to strengthen its performance both in ASEAN and Thai markets.

Even as the economy remains uncertain, ThaiBev shrugged off. ThaiBev, Southeast Asia’s leading beverage producer and distributor and the largest in Thailand, believed Thailand and the region have still offered a huge business opportunity, especially the region with non-alcohol business. ASEAN is the company’s core market and seen as a growth driver.

Thapana Sirivadhanabhakdi, the group’s president and CEO of Thai Beverage Plc

Thapana Sirivadhanabhakdi, the group’s president and CEO said such an investment was quite small when compared to the pre-Covid 19 period. However, what the company wants to focus more is to increase business value of the current businesses which were acquired previously. Although such a move will produce a conservative growth for the group, he said he is “happy” with its outcome.

ThaiBev has successfully navigated its business through the challenges of Covid-19 over the past two years and delivered resilient financial and operating performance in the nine-month financial period ended June 2022 (9M22) amid changing consumer preferences. . Its 9M22 sales grew by 8.2% to 207.92 billion baht with EBITDA rose by 6.7% to 39.11 billion baht, thanks to the lifting of social and border restrictions in Thailand and Vietnam which allowed locals and tourists to return to dine and socialize.

Thapana Sirivadhanabhakdi, the group’s president and CEO of Thai Beverage Plc

During the period of Covid-19 restrictions, the Group nimbly adapted its operations and implemented cost control measures to mitigate the impact of the temporary closures of restaurants and entertainment venues on demand and consumption. The Group’s business segments focused resources on improving its brand equity on the ground, through more effective advertising and promotional activities, improving product mixes and other operational initiatives.

Despite a sign of recovery, new challenges remains to lie ahead such as higher inflation and geopolitical tension. The factors is expected to take a toll on domestic consumption. However the company is confident to manage them well, thank to the group’s long experience and strong business foundation.

Beyond business operation, the group also pursued its PASSION 2025 goal of “Creating and Sharing the Value of Growth”, it has continued to prioritize delivering on its corporate responsibility to operate with good governance and responsibility towards society, the environment and its people.

“At the same time, we are reinforcing our commitment to Enabling Sustainable Growth by setting out quantifiable targets to help us achieve sustainability and net-zero emission,” he said.

ThaiBev’s vision is to be the stable and sustainable ASEAN Leader in beverage and food business. Currently, ThaiBev’s business comprises four segments, including spirits, beer, non-alcoholic beverages and food. Its well-known spirits brand include Hong Thong, Blend 285 and SangSm. For beer brands, Chang is one of the recognizable Thai beers locally and internationally, and non-alcoholic beverage brands include Oishi green tea and est cola. The firm also operates Japanese restaurants and ready-to-cook and ready-to-eat food businesses, as well as KFC restaurants in Thailand.

Thai Beverage moves ahead sustainable growth plan